Solve the problem. A $8920 note is signed, for 160 days, at a discount rate of 6.5 % Find the proceeds.
2 answers:
<h2>Hello!</h2>
The answer is $101688
<h2>Why?</h2>Since there is not enough information about the rate, let's assume that it's a daily rate.
<h2>Calculations</h2>Let's say:
P : Proceeds
o : original amount
d : number of days
r : percentual rate
So,
Let's make the percentual rate (6,5%) a real number by dividing into 100,
By substituting, we have
$101688
Have a nice day!
<h2 /><h2 /><u>Answer:</u>
$101,688
<u>Step-by-step explanation:</u>
We are given that a $8920 note is signed, for 160 days, at a discount rate of 6.5% and we are to find the proceeds.
For this, we can use the following formula:
where is the discount rate,
is the number of days; and
is the original amount.
Substituting the given values in the formula:
F = $101,688
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